Ispat Industries Q4 net profit at Rs.82.12 crores

Ispat Industries Ltd has announced the financial results for the quarter & year ended March 31, 2007. The Unaudited results for the Quarter ended March 31, 2007 are as follows: The Company has posted a net profit of Rs 821.20 million for the quarter ended March 31, 2007 as compared to net loss of Rs 1531.40 million for the quarter ended March 31, 2006. Total Income (net of excise) has increased from Rs 13010.10 million for the quarter ended March 31, 2006 to Rs 21415.80 million for the quarter ended March 31, 2007.

The Audited results for the Year ended March 31, 2007 are as follows: The Company has posted a net loss of Rs 95.30 million for the year ended March 31, 2007 as compared to net loss of Rs 8126.70 million for the year ended March 31, 2006. Total Income (net of excise) has increased from Rs 50107.30 million for the year ended March 31, 2006 to Rs 75954.90 million for the year ended March 31, 2007.

The Audited consolidated results for the Year ended March 31, 2007 are as follows: The Group has posted a net loss of Rs 102.60 million for the year ended March 31, 2007 as compared to net loss of Rs 8139.00 million for the year ended March 31, 2006. Total Income (net of excise) has increased from Rs 50107.30 million for the year ended March 31, 2006 to Rs 75953.40 million for the year ended March 31, 2007.

Further the Company has informed that, the Board of Directors has not recommended any dividend for the financial year 2006-07.

The stock closed the day at Rs.15.25, down by Rs.0.40 or 2.56%. The total traded quantity was 1489858 compared to 2 week average of 905427. The stock hit an intraday high of Rs.16 and low of Rs.15.10.

Source : Equity Bulls

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